Which of the following statements is/are true about time-series forecasting?
A)The basic strategy of time-series forecasting is to identify the magnitude and form of each component based on available past data.
B)Time-series methods are used to make detailed analyses of past demand patterns over time and to project these patterns forward into the future.
C)Under time-series methods,demand can be divided into components such as average level,trend,seasonality,cycle and error.
D)Time-series methods are useful for long-range forecasts.
E)a,b,and c

Question

Quizplus · Accepted Answer

All of the statements are true about time-series forecasting. The basic strategy is to identify the components of past data, time-series methods analyze past demand patterns and project them into the future, and demand can be broken down into different components. However, time-series methods may not be as useful for long-range forecasts as other methods, so statement D is not entirely accurate.

Which of the Following Statements Is/are True About Time-Series Forecasting